The objective of the Energy Efficiency Facility for Industrial Enterprises Project is to improve energy efficiency in Industrial Enterprises (IEs) by designing and establishing a financing mechanism for energy saving investments. The project’s overall... See More +The objective of the Energy Efficiency Facility for Industrial Enterprises Project is to improve energy efficiency in Industrial Enterprises (IEs) by designing and establishing a financing mechanism for energy saving investments. The project’s overall performance has been satisfactory. Progress towards achievement of the PDO has been rated satisfactory since effectiveness of the original IDA credit. The overall implementation progress has been rated satisfactory or moderately satisfactory since effectiveness of the additional finance. The slow disbursement of the TA component was the main reason for the moderately satisfactory rating in the last four ISRs. As of December 31, 2017, about 93 percent of the IDA credits (including the original and additional IDA credits) had been disbursed. Subprojects to be financed by the remaining IDA funds are under procurement process. Due to the recent government reorganization, two ICB tenders, which obtained Bank no-objections in June 2017, were not officially approved until mid-November 2017. Due to these unexpected delays in implementation, an extension of the closing date of the additional IDA credit is needed in order to complete the remaining subprojects. The negotiations of a proposed additional loan of US$200 million to the parent project were concluded on December 28, 2017. During the negotiations, the Uzbek delegation requested the Bank to extend the closing date of the additional IDA credit (IDA-52410) and the parent project (P118737) to January 31, 2023, in alignment with the Closing Date of the additional Loan. An interim Implementation Completion and Results Report (ICR) of the original and additional IDA credits was approved by the Senior Director of EEX GP on December 31, 2017. The outcome is rated satisfactory. The Bank Performance is rated satisfactory. The M&E Quality is rated substantial. Audited project financial statements were submitted to the Bank on time. There are no overdue audit reports under the project.
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